AdultAdvanced Learner LoanKey facts about repayments

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Key facts about repayments

Loan repayments commence the April following the completion of your course, for example; a course that runs from September 2016 to July 2017, repayments will commence from April 2018.

Student Finance England will ‘write off’ any outstanding Advanced Learner Loan you owe for an Access to Higher Education course once you complete a higher education course. This only applies to loans taken out for QAA Access to Higher Education Diplomas.

Please note that if you are studying towards your Higher Education course in April 2018 and you earn a salary that is above the threshold, repayments will be deducted until you complete your Higher Education course, the balance outstanding will be written off.

Repayment of loans is through the tax system; first repayments will commence in April 2018 in line with changes to Higher Education repayments.

Repayments are at 9% of income above £21,000 – irrespective of the amount of the loan you have taken out.

Interest rates are variable based on income up to a maximum of RPI+3% for incomes above £41,000.

Outstanding loan balances will be written off after 30 years.

Example monthly repayment amounts, income each year before tax:

Up to £21,000 – Repay £0

£22,000 – Repay £7

£25,000 – Repay £30

£30,000 – Repay £67

£35,000 – Repay £105

£40,000 – Repay £142

These repayments will be linked to your earnings rather than the loan amount, so regardless of how much you owe, the payments will be the same.

If your annual earnings fall below £21,000 repayments will stop, and only re-start when earnings increase to more than £21,000 a year.

If you earn over £21,000 whilst studying on your Higher Education programme you will start repayments, however once you have completed the course any outstanding balance will be written off.

For further enquiries and support please contact our Student Services Team: